Dr Fatih Birol, chief economist at the International Energy Agency (IEA), said US$523 billion in subsidies for fossil fuels - which globally amounted to six times the level provided for renewable energy last year - were delaying progress toward low-carbon energy. Speaking at the Southeast Asian launch of the IEA’s World Energy Outlook 2012 report, he said the subsidies were the “number one public enemy in the fight against climate change”.
The energy sector needs to do more to increase access to energy for the poor and to improve energy efficiency, particularly in Southeast Asia where energy demand will increase about 80 per cent over the next 25 years, he added.
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